Did you Know?

SOME INTERESTING FACTS ABOUT SRI LANKAN BUSINESS SUCCESSES

Victoria’s Secret is Sri Lanka’s best kept secret.  Victoria’s Secret procures about a third of its global sourcing volumes of lingerie and sleepwear from Sri Lanka.  Two private companies in Sri Lanka, MAS Holdings and Brandix, are the leading suppliers for Victoria’s Secret in Sri Lanka: both have state of the art manufacturing plants and exemplary labor, safety and environment practices.  Sri Lanka’s apparel industry also serves other global majors like Gap, Next, Liz Claiborne, Marks & Spencer, and Abercrombie & Fitch.  Sri Lanka offers a full range of services from designing, fabric sourcing to washing, shipping and logistics.  For more information, please visit www.srilankaapparels.com, www.masholdings.com, www.brandix.com.

Sri Lankan software powers world stock exchanges:  Sri Lanka has a small but a sophisticated software industry producing cutting edge software for global clients.  For instance, Millennium Information Technologies, headquartered in Sri Lanka, specializes in capital market software products.  The company’s systems currently power several stock exchanges and depositaries around the world including the American Stock Exchange, the third largest stock exchange in the US.

Sri Lanka is the world’s leader in industrial solid tires:  Sri Lanka is the current global market leader in industrial solid tires, supplying approximately 30 percent of the global market.  Sri Lanka’s success in the rubber industry is helped by its rank as the world’s 10^th largest producer of natural rubber.

Sri Lanka is the world's biggest producer of cinnamon:  Sri Lanka is the world’s largest producer and exporter of “true” Cinnamon (Cinnamomum Zeylanicum).  Cinnamon grown in Sri Lanka, considered the best in the world, is now being branded and promoted as “Ceylon Cinnamon.”  Mexico is its main destination where it is drunk with coffee and chocolate and brewed as a tea.  Sri Lanka’s “true” cinnamon differs from the lower priced substitute product “Cassia.” 

Sri Lanka produces arguably the best fishing flies in the world:  U.S. Company Umpqua Feather Merchants, has a fly-tying factory in Sri Lanka, which produces world class hand-tied fishing flies. Lanka Fishing Flies is the world's single largest producer of hand-tied fishing flies, and the world's largest producer of custom flies.  In addition to its high volume, Lanka Fishing Flies are considered the highest quality.  According to Umpqua's website, quality and excellence of each fly pattern take priority over the number of flies produced.  www.umpqua.com

Sri Lanka can be a gateway to the Indian market:  Sri Lanka sits next to world’s newest economic power--India.  Most exports from Sri Lanka qualify for duty free entry to India’s large and growing market.  Manufacturers in Sri Lanka, with 35 percent local value addition, enjoy these benefits under the Indo-Sri Lanka Free Trade Agreement.  Many Sri Lankan exports also enjoy duty free status or preferential tariffs in a number of key markets including the U.S. (under US GSP), EU (EU GSP+), Pakistan (Pakistan Sri Lanka FTA) and South Asia (South Asia Free Trade Agreement - SAFTA).    For more information please visit www.doc.gov.lk or www.boi.lk.

Downwind Sails for Italy’s +39 Challenge team at America’s Cup produced in Sri Lanka:
In its Sri Lankan plants, North Sails Group LLC of Milford, CT, produced downwind sails for Italian “+39 Challenge team” boat that competed in 2007 Louis Vuitton Cup races, the qualifying series for the final 2007 America’s Cup race.  Downwind sails are made from specially designed Nylon fabric meeting specifications for racing sails.  North Sails’ Sri Lankan subsidiary has five factories within a key export processing zone in Sri Lanka, one of which is a state of the art facility to manufacture three dimensional (3DL) sails, a revolutionary sail making technology.  The company also produces a range of sails, boat covers, bags, fiber glass boat accessories and hi-tech water sports products in Sri Lanka.  Their products are exported worldwide.  North Sails Group powered ten of eleven teams that competed in the Louis Vuitton Cup/Amercia’s Cup races.  For further information please visit www.northsails.com